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Quick Update: Will Angel Broking Hit 1764 Before Month End?

Morning call: Click here to read it

I had written in bold words today at 9:07 AM, “Target for Day Traders: 1455-1479-1490“.

It has touched all intraday targets at 9:18 AM. Enjoy!

Tata Motors Updates

BEFORE

September 17, 2021, 1:10 pm – Could Tata Motors be the hottest investment for 2021?

I had written in clear words, “…we can get the following swing trade targets: 340 – 362 – 415“.

AFTER

Tata Motors has reached the first target of 340 today. Will it touch the second & third targets?

Angel broking is near to break the 2-month-old resistance level.
Price has completed the corrective wave 4.
If the price doesn’t break the 3rd wave’s high, then the corrective wave will begin. Furthermore, the 4th wave can be extensive (between the range of 1014 – 1475).

Target for Swing Traders:
Target 1 : 1525
Target 2 : 1632
Target 3 : 1764

Target for Day Traders: 1455-1479-1490

BHEL futures can keep moving forward for the levels of 67.6 – 68+.
Intraday support: 64.90 – 65

Invalidation: the previous trading season’s low.

Key level: 406
Is it the right time to buy Jindal Steel & PWR Futures? No. It needs to break/close above 406 level to touch the 416 – 426 – 432+ levels.

Otherwise, we will see fall rapidly this week. It can be up to 386 – 372 – 360.

MCX gold has started falling since 1st June, and it’s moving under a parallel channel. But this time, it can break out this channel. Why? I will explain it through Elliott wave projection in the next update.

In the last trading session, it made a Doji candlestick. And that’s a sign of trend change. If gold does not break the crucial level, then it can drop up to 0.382 to 0.236.

In simple words, short-term targets: 46200 – 45960 – 45765
And for long-term traders: 45600 – 45060

But, the uptrend isn’t far away. If gold does breakout of 46860 level, then we may see 47276 – 47600 – 47960+.

Don’t get confused! You have to watch out the level 46860 for an uptrend, and the closing price below the Doji candle indicated a bearish trend signal.

This week we may see higher fluctuations due to upcoming economic events. Watch the following significant releases or events that may affect the movement of gold, silver, crude oil, & natural gas:

Monday, Oct 04, 2021
15:30 OPEC Meeting – Medium Impact

Tuesday, Oct 05, 2021
19:30 ISM Non-Manufacturing PMI (Sep) – High Impact

Wednesday, Oct 06, 2021
02:00 API Weekly Crude Oil Stock – Medium Impact
17:45 ADP Nonfarm Employment Change (Sep) – High Impact
18:30 FOMC Member Bostic Speaks – Medium Impact
20:00 Crude Oil Inventories – High Impact
21:00 FOMC Member Bostic Speaks – Medium Impact

Thursday, Oct 07, 2021
18:00 Initial Jobless Claims – High Impact
20:00 Natural Gas Storage – Low Impact

Friday, Oct 08, 2021
18:00 Nonfarm Payrolls & Unemployment Rate – High Impact

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